Lara Sweet Sells 11,701 Shares of Snap Inc (SNAP) Stock

Snap Inc (NYSE:SNAP) CFO Lara Sweet sold 11,701 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $9.25, for a total transaction of $108,234.25. Following the sale, the chief financial officer now owns 699,102 shares of the company’s stock, valued at approximately $6,466,693.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Lara Sweet also recently made the following trade(s):

Get Snap alerts: On Wednesday, January 16th, Lara Sweet sold 6,489 shares of Snap stock. The stock was sold at an average price of $5.77, for a total transaction of $37,441.53. On Monday, December 17th, Lara Sweet sold 22,116 shares of Snap stock. The stock was sold at an average price of $5.83, for a total transaction of $128,936.28. On Wednesday, December 19th, Lara Sweet sold 33,031 shares of Snap stock. The stock was sold at an average price of $5.75, for a total transaction of $189,928.25.

Shares of SNAP traded up $0.15 during trading hours on Thursday, reaching $9.39. The company had a trading volume of 20,036,170 shares, compared to its average volume of 29,607,688. The company has a market capitalization of $12.21 billion, a PE ratio of -9.68 and a beta of 0.77. Snap Inc has a 12-month low of $4.82 and a 12-month high of $18.53.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.15. The business had revenue of $389.82 million during the quarter, compared to the consensus estimate of $378.90 million. Snap had a negative net margin of 106.39% and a negative return on equity of 46.90%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) EPS. As a group, equities analysts forecast that Snap Inc will post -0.7 EPS for the current fiscal year.

SNAP has been the subject of a number of recent research reports. Bank of America cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. Pivotal Research reiterated a “hold” rating and set a $6.00 price target on shares of Snap in a research note on Wednesday, January 16th. Goldman Sachs Group cut shares of Snap from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $6.00 in a research note on Friday, January 4th. Zacks Investment Research upgraded shares of Snap from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Monday, February 4th. Finally, Jefferies Financial Group decreased their price target on shares of Snap from $11.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.09.

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new position in shares of Snap in the 4th quarter valued at about $117,000. B. Riley Wealth Management Inc. purchased a new position in shares of Snap in the 4th quarter valued at about $163,000. HRT Financial LLC increased its holdings in shares of Snap by 212.9% in the 4th quarter. HRT Financial LLC now owns 108,307 shares of the company’s stock valued at $596,000 after purchasing an additional 73,697 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Snap in the 4th quarter valued at about $111,000. Finally, All Terrain Financial Advisors LLC purchased a new position in shares of Snap in the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 22.39% of the company’s stock.

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Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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